India-EU trade pact to help boost domestic auto manufacturing: Senior official

New Delhi: The India-EU free trade agreement will help attract greater investments into India and boost automobile manufacturing in the country, a senior government official said on Tuesday.

The two sides on January 27 announced the conclusion of negotiations for the trade pact. It may come into force from next year. Additional Secretary in the commerce ministry Darpan Jain said the auto sector appeared to be a challenging area during negotiations for the pact as India has high import duties, but the country has converted those challenges into opportunities through the agreement.

India has provided quota-based, long-phased solutions in the sector so that there are concessions also to the EU but at the same time the Indian industry also gets adequate protection, Jain said.

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